Following are highlights of the 115-page "Treaty for the Creation of a Currency, Economic and Social Union" between East and West Germany:
Foundations of unity: As of July 2, both Germanys will be market economies with freedom of movement for workers, capital, goods and services; both will be committed to a free, democratic and federal system; East German law conflicting with the treaty in any way will be invalid.
Currency union: The powerful West German deutschemark becomes the legal tender of both countries, with West Germany's central Bundesbank regulating all monetary policy. East Germans will exchange their weaker ostmark at a rate of 1 to 1 for wages, pensions and savings up to 4,000 marks (about $2,500) for most adults and 6,000 marks (about $3,800) for people over age 60. Everything else will swapped at a rate of two ostmarks to one deutschemark.
Economic union: Private ownership and a capitalist free-market system in accordance with European Community law and objectives replace the moribund economy of East Germany's former Stalinist system; East Germany adopts West German monetary, economic and tax policies.